Ballarpur Industries Limited (BILT) today announced its financial and operating results for FY 2007-08 and Q4 FY 2008.

*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the fourth quarter and twelve months of Fiscal 2008.

Performance highlights for FY 2008 vs FY 2007

FY 2008 (July – June 2008) compared with FY 2007 (July – June 2007):

Paper and Paper products revenues are higher by 18.49% to Rs 26113 million compared to Rs.22039 million in the last year. PBIDT has increased by 22.05% to Rs 7146 million from Rs 5855 million, while PBT is higher by 13.82% at Rs 3740 million compared to Rs 3286 million. The Company’s cash generation from operations (PAT + Depreciation & Amortisation + Deferred Tax Liability) has increased by 16.04 % to Rs 5317 million from Rs.4582 million.

Q4 FY 2007 (April – June 2008) compared with Q4 FY 2007 (April – June 2007):

Paper and Paper products Revenues have grown by 3.37 % at Rs 6865 million compared to Rs 6641 million over the same quarter in previous year. EBIDTA for the quarter has improved by 8.48 % to Rs. 1832 Mn compared to 1689 Mn , while PBT has increased by 1.90 % to Rs 903 million from Rs 886 Million. The Company’s cash generation from operations (PAT + Depreciation & amortization + Deferred Tax Liability) has increased 8.74 % to Rs 1331 million from Rs 1224 million.

Operating overview:

1. PBT growth was 13.82 %, while the Net Profit grew by 19.06 % over the previous year.
2. Net Profit has increased by 19.06 % to Rs 3036 millions from Rs 2550 millions.
3. EBITDA for the year increased by 21.38% to Rs. 7240 millions from Rs 5965 millions.
4. EBITDA margin (net of excise, internal transfers and other income) was 25.57% for the year as compared to 25.73 % during the previous year.
5. Fully Diluted EPS grew from Rs. 2.81 to Rs .4.76, reflecting a growth of 69.40%.
6. Total writing and printing paper production of 152351 MT in Q4 FY 2008 compared to 146707 MT in Q4 FY 2007.
7. Total writing & printing paper sales of 159979 MT in Q4 FY 2008 compared with 147808 MT in Q4 FY 2007.
8. Total writing and printing paper sales at 600411 MT compared to 581909 MT in the last year.
9. Interest costs at Rs. 371 million during the fourth quarter 3.23% higher than the corresponding quarter previous year. Yearly interest cost higher by over 47.74% at Rs. 1482 million.
10. The gross revenues for the current year was 3026 Crores registering an increase of 19.90 %.
11. The PAT was Rs.303.59 Crores as against Rs 256 Crores registering an increase of 19.06% .

Avantha

The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol and Sonomatra.

The Group has business interests in diverse areas including power transmission and distribution equipments and services, paper and pulp, energy and infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.The Group is on an aggressive growth path, with a targeted turnover of US$ 10 bn and a market capitalization of US$ 25 bn by 2013.

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Ballarpur Industries Limited

Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing (W&P) paper. BILT’s subsidiaries include Sabah Forest Industries (SFI), Malaysia’s largest pulp and paper company, and BILT TreeTech Limited (BTTL), which runs BILT’s farm forestry programme in several states in India.

BILT has six manufacturing units across India, which give the company geographic coverage over most of the domestic market. BILT has a dominant share of the high-end coated paper segment in India. The company accounts for over 50% of the coated wood-free paper market, an impressive 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market, besides being India’s largest exporter of coated paper. BILT is the only Indian paper company to feature among the global top 100 – its ranking having been elevated to 87 with SFI’s acquisition in 2007.